| 24 April 2024, Wednesday |

Pharmaceutical importers shall shift towards low-priced generic medicines

The Finance and Budget Parliamentary Committee approved 3 articles of the law on restoring funds transferred abroad, to determine the execution of the law and its comprehensiveness and how to restore the funds.

The laws will also determine whether the transfers stem from corruption crimes, or whether it was transferred on discretion basis.

In this context, an international financial source confirmed to Sawt Beirut International that if the deputies in Lebanon had known the importance of the Capital Control Law, they would have passed it in 2019, and would not need to pass the law to restore funds transferred abroad today.

After lifting subsidies on medicines and raising its prices to an extent that exceeds the purchasing power of the citizen, the shift from branded medicines to generic medicines has become vital to secure medicines in the market with quality and prices that consider the living conditions of the Lebanese.

The Minister of Public Health, Firas Abiad, announced the details and objectives of his decision regarding the initial registration of the medicine in order to make it available in the Lebanese market, provided that they are of high quality at affordable prices and are competitive in the market.

This decision is a new step that will help provide alternative medicines to the citizen in the market at lower prices than the branded medicines they are accustomed to, after lifting the subsidy and raising the prices of medicines.

  • Sawt Beirut International